Business View Caribbean | May 2016

54 May 2016 - Business View Caribbean Business View Caribbean - May 2016 55 our exchange and is domiciled otherwise, the compa- ny would have had to be listed on a major exchange in its own jurisdiction. “In terms of capital, the company must bring to the market 20 percent of the ownership of that company; for the main market it must be in the hands of 100 shareholders, and for the junior market, 20 percent of the ownership of the company must be in the hands of, at least, 25 shareholders. And the reason for this is so that there can be ‘float’ in the market - the Articles of Incorporation must state that the shares are freely transferable. The company must also be bound by the listing agreement of the Jamaica Stock Exchange in terms of pre-listing and post-listing requirements. The company must produce its quarterly financial state- ment, its annual financial statement, audited finan- cials, and its annual report on a timely basis. Other than that, it follows normal rules of the Exchange or the company can be suspended or de-listed. ‘The company, when it comes to market to be listed, must get the approval of a Committee of the Board, called the Listing Committee. Again, the company must have a Board of Directors, an audit committee, and all the various requirements of a global, recognized stock exchange, as embedded in our rules.” How many companies are currently listed on both exchanges? We have approximately 62 companies listed on the main exchange and the junior market; 25 companies on the junior market and the difference on the main market. How many brokers work the Exchange? There are 12 brokers that have been approved as member/dealers of the Jamaica Stock Exchange and these brokers also have to be approved by the Finan- www.softwarearchitectsjm.com contactus@softwarearchitectsjm.com FOR ALL YOUR ICT NEEDS Tomorrow’s Technology... Today